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Weekend Early Start

News/Business. Randi Kaye. The day's top news and events. New.

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CNN

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00:31:00

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San Francisco, CA, USA

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Channel v759

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mpeg2video

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ac3

PIXEL WIDTH
1920

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1080

TOPIC FREQUENCY

Us 5, Granbury 3, Cnn 3, Bernie Madoff 3, Garth 3, Bjorn 3, Texas 2, Cymbalta 2, Bernie 2, Ruth 1, Facebook 1, Missouri 1, Toronto 1, Poppy 1, Massmutual 1, Siemens 1, Nick 1, Nick Valencia 1, Obama 1, Bridgeport 1,
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  CNN    Weekend Early Start    News/Business. Randi Kaye. The  
   day's top news and events. New.  

    May 18, 2013
    4:00 - 4:31am PDT  

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>> that story about the mayor of toronto, that is unbelievable. >> still no official statement from him yet, and we can't independently confirm that video. >> and the claim enough is to make you drop your jaw and say, what? thank you for starting your morning with us. >> more coming up here on "cnn saturday morning" starting right now. from cnn world headquarters in atlanta, this is "cnn saturday morning." at this hour -- >> we heard boom and then we saw smoke wherever. >> two trains collide on one of the most travelled routes in the northeast. now a major investigation. what would you do with $600 million? that's the powerball jackpot right now. tweet me, victor@cnn.
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no pictures, please. that's the message from beyonce's team. we will tell you why and what some media are doing to fight back. good morning. it's saturday, may 18th. i am victor blackwell. >> i am poppy harlow. thank you for starting your saturday with us. we begin with the train collision that we have been telling you about connecticut and what could be a long delay for commuters next skpwaebg a lot of focus on the victims right now. >> yeah, linking the bridgeport area to new york city. tracks could be closed for weeks officials say, and you know that's a popular, popular route. and that's just part of the story, though. >> i just describe it as a commuters worse nightmare. >> two passenger trains headed in opposite directions collided. hundreds of passengers ran for the exits.
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>> all of a sudden, we just hear, boom, and then we saw, like, smoke everywhere. i was just focusing in on my two kids and just hugging them and embracing them. >> people flew places, and i almost flew over the seat but i held on and i am okay. lots of people hurt, though. >> we all went to the front of the train and kicked out windows and got off the train. >> this morning the national transportation safety board will be on the scene to determine what happened. >> i was in the second car of the northbound train. we derailed and there was rocks and stuff flying up on the side of the window and it was bumpy. as soon as everything stopped and then we were hit by the southbound train. >> the attention is focused on those injured passengers. >> most of those with injuries that are not -- don't fall into the serious or critical area, we have five people who are
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critically injured, and one in a very critical condition. >> we know the number of those who are in critical condition, that has been dropped to three. good news there. and we will check in with our reporter later this morning. and then according to south korea, the missiles landed in the sea, and it is expected there was a test firing of the missiles but there was no warning. tension in the korean peninsula cooled a bit just a short while ago. north texas, families wondering what do we do next? that's because their neighborhoods are gone. they were leveled by tornados, as many as 16 of them.
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and that number could increase as they continue the investigation. nick valencia is there in granbury, texas. when you go into the area there, there is nothing around salvageable. but there are areas not as bad. give us an idea about how widespread the damage is. >> reporter: that's great context, victor. when you think about a tornado like joplin, missouri, where a tornado went through the center, and then the devastation here in granbury here in that community, it looks like that. but there is an end point. this storm hovered over that community and wiped it over the map. and granbury as a whole, population about 8,000 people, it's still intact and functioning. >> nick, the people there, understandably in this
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neighborhood have no idea what is coming next. how are they coping? >> reporter: i have spoken to many of the residents and many are still trying to make sense of what happened. many are thankful to be alive. we were driving and ran into some residents on the side of the road and they were receiving food from a voluntary organization. a lot of them had the blank sta stare. they are still in shock. and then one family was okay and they road out the storm, but he is annoyed of having to deal with having to spend time on the phone with the insurance agencies and they are having to deal with putting their lives back together. >> there are volunteers and neighbors helping neighbors, but when does the big money come in, the federal assistance come in? >> reporter: hook county first
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responders will tell you they are doing as much as they can. yesterday governor rick perry came to town and we asked him that, and one of our producers asked him about federal assistance and he said it's too early and has not reached out to the federal government and he is certain barack obama is watching the developments here and as the community is beginning to put its life back together again, and we understood from the sheriff the plan is to let residents back in at about 8:00 this morning, and this road behind me is one of the two ways in and out of the community, and so as they trickle back in, we will bring more to you. looks like investors are ignoring the old adage, sell in may and go away. the stock market on the rally. the nasdaq and dow and s&p 500 finishing up at record levels.
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investors happy to see reports that the economy is continuing to improve, and consumer sentiment hit a six-year high. shares of jcpenney slid after the retailer reported another massive quarterly loss. maybe it's you. almost half of americans are not invested in the stock market at all, and so if you are not benefiting from the gains, maybe you are trying something on the jackpot. it's the biggest jackpot for powerball. what would you do with all of that money? let's bring in our personal finance and financial correspondent. zane? >> reporter: it's powerball mania over here in new jersey where people are lining up to throw their hat in the ring and have a chance at winning tonight's jackpot prize. the chances of actually winning
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are dismal, 1 in 175 million. those are your chances of winning the jackpot prize. that's not stopping people, though. i spoke to one woman and i asked her what would you do if you won this kind of cash. this is what she had to say. >> i would pay off my mortgage and my parents' house and the mortgage down the shore and i would buy a house on the beach and donate to the cancer charity, and set up a college fund for my children. >> reporter: she obviously thought about it and best of luck to her and anybody else playing as well. i want to mention, poppy, if nobody wins tonight's jackpot it could grow by wednesday of next week to almost a billion dollars. poppy? >> a billion bucks? what do you do with that,
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victor? >> i have tweets. if i won $600 million in powerball, i would pass out in skphaubg i would definitely take the phone off the hook. >> i never understand why people come out and announce it. >> some of the lotteries you have to. >> what would you do? >> not have a press conference. somebody said, pay off the debt of everybody i know. travel. give a whole lot of it away. >> yeah. >> here is a question. when you go out do you have to buy dinner every time with your friends? do they expect you just to buy dinner? >> i think if you have that much, yeah. you have to. >> all right. regrets from the big house. a cnn exclusive with bernie madoff. what does a swindler have to say about his accommodations now?
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and then you have seen the pictures. they accuse her of being too controller. what is the big fuss? what is it all about? we'll tell you coming up. all stations come over to mission a for a final go. this is for real this time. step seven point two one two. verify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond it. siemens. answers. ♪ pop goes the world [ female announcer ] pop in a whole new kind of clean with tide pods. just one pac has the stain removal power of 6 caps of the bargain brand.
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about tomorrow. here's to good decisions. who matters most to you says the most about you. at massmutual we're owned by our policyowners, and they matter most to us. ready to plan for your family's future? we'll help you get there. well, while the stock market hits a record high, not every one is sharing in the good fortune. >> take facebook. it's still way down from its super high ipf. >> that took place today. and some investors not just like it but love it. >> reporter: first came the excitement. then came the waiting.
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>> we're still waiting for the indications over the nasdaq where it could be. >> facebook was to begin its trading about 25 minutes ago, and now finally the moment has arrived. >> the size of the public debut, 400 million shares overwhelmed computer systems at the nasdaq, and costed the exchange up to $62 million to compensate firms involved. the price peeked at $45 and then the price plummeted and by the summer it was under $18. but new products helped the price recover and stabilize around $27 a share. but the key to recovery has been meeting the biggest challenge dodging facebook since last year, how to make money from mobile. facebook worked to move ads to the side of the ad into the news feed.
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>> they are seeing the ads the same way they are seeing updates and that has gotten a lot of response from the advertisers. >> 750 million users use the mobile app each month. they can see which friends like the brand or products being advertised and an extra enticement to click and buy. >> my friend victor is recommending master card to me right on my phone. and that's really powerful. >> and lucrative. at the time of the ipo, facebook was getting less than 15% of its ad revenue from mobile and today it's 30%, and that helped facebook shares to a 20% gain over the last six months. the user base has gotten older and it risks losing younger ones. >> the fact that your mom is on facebook and your kids are not on facebook it's a good thing for advertisers and a good thing for investors, but over the long
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term it's dangerous to see younger people leaving facebook. >> as it enters year two as a public company, more and more young people see facebook as an essential part of their lives, whether they like it or not. >> sometimes i wake up in the middle of the night with my phone plastered to my face. >> i don't know if it's cool but it's the standard. >> facebook is a utility, and it's no longer what people like or want but it's something that people need. >> alison kosik, cnn, new york. and he stole billions, and now making 40 bucks a month. a interview with bernie madoff. what does he have to say now? with the spark miles card from capital one,
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bernie phaemadoff has a lot time to think about his mistakes and family and victims. he is at the beginning of 1 150-year-sentence. and we were able to get a jailhouse exclusive speaking on the phone with madoff who is currently at the federal correctional complex in north carolina linea. i want to read a quote. madoff saying i live with the remorse and the paein i caused everybody, certainly my family
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and victims. and you talked to him three separate times over a number of days. what sense did you get from him about his biggest regret? >> his biggest regret is most definitely the death of his son, mark. he committed suicide on the second anniversary of his father's arrest. the first thing madoff said to me is that he feels terrible about his son's death and feels responsible for it, and he also said that it bothers him a great deal that he is disconnected from his family. he mentioned that he was married for 50 years to his wife, ruth, and he doesn't seem to have any contact with his surviving son, andrew. >> this is all about him. but what about all of the hrali that he really harmed? i talked to somebody that lost tons and tons and a victim that
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will be on next said he was decimated by it. >> he is believed to have stolen $17.5 billion, and he said it was more like $9 billion. he says that he feels bad about the fact that he victimized all of the people, and at the same time he says that he shifted the blame to three investors who he said should have helped him out more in 1987 when there was the stock market crash that he blames for being the impetus for the ponzi scheme. >> one of the very interesting things that only you got to hear is how does he sound? >> he sounded very calm and collected. he is quite obviously an intelligent man with a lot of knowledge in wall street, and he basically sounded very reassuring, and i could easily
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see how people would get taken in by him because he basically is very convincing, and he -- to tell you the truth, he comes across as kind of a nice guy. and he also uses a lot of wall street jargon, and i could see how people would be convinced that this is the man. you know, you give your money to him and he will take care of it. >> he is doing nothing wall street or investment related in prison, and i know he makes $40 a month. what does he do? >> he basically has a menial job. it sounds like a part time job a. few hours a day. he said that he makes sure the phones and computers are kept clean and that they are working. when i asked him for more detail, he basically dismissed it as a nontechnical job, and he emphasized it requires no skill whatsoever. >> a an interesting tidbit, he
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had to call you collect. you had to pay for that one to take that phone call. >> when i mailed him a letter, i gave him my phone call and invited him to call me collect, and then i put $30 in his account and he actually called me at least five times, and got through three times and we had conversations and eventually we got cut off because his account ran out of money. >> congratulations on the exclusive. appreciate you sharing that. fascinating. thank you. more than 2,000 people fell victim to madoff's schemes, and joining me is the co-author of the book "the club nobody wanted to join," and he teaches a class on madoff, and he along with some of the victims of madoff. thank you for joining us.
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>> glad to be here. >> you and your 84-year-old mother lost most of your life savings. what is your reaction of what was just said and what you read of the jail house interview? >> i guess my initial question was why would bernie continue to call the press? why is he at a point in his life where he just can't be quiet. the thing that aaron talked about that bothered me he continues to blame others for what happened here. certainly i guess my perspective on this is bernie madoff was not more than a name on a sheet of paper for me, and i never met him and it was by representation, and i saw what he was doing. my preference is that bernie remain quiet until he is released from prison. i guess he has an ego that was so large at this point that he simply has to stay in the news
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and has to continue to talk about this, and he continues to blame other people for something that from my perspective he did it and is the only one that did it. >> how are you and your family doing? you have been able to recoup your losses from this? >> i was fortunately enough not to be retired when madoff was arrested. my real requirement date was scheduled for 2010. with the 20 years we were invested with madoff, i plotted out about replacing the bulk of my income. and the ones that have trouble, they were retired and they were living on this and then all of a sudden their income has been -- in my mother's case, cut by 72%. and that's a problem for these folks, because at 85 years old she has no way to replace that income.
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fortunately, i still do. you have other victims that have gone further than that. they not only lost the income from what they were taking out of the madoff act but they are being sued by the trustee for something called drawback, and he caused an awful lot of damage and i don't think he grasps the impact he has had on so many people. >> absolutely not. we are sorry for the loss you and so many have suffered but the fact you are getting out there and on the crusade to help others is an admirable thing. be sure and check out the article on cnnmoney.com. a puppy -- this is a good story. a puppy ripped from his owner's arms during the killer tornados in texas reunited with his owner, and we caught the emotional reunion between one survivor and his best friend.
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